The Romanians’ average wages in private sector increased year on year by 5 percent in the first nine months of the year, as well as the incentives, by 12 percent, according to Smartree Workforce Index, an analysis of Smartree, one of the important players in outsourcing processes in HR in Romania.
The growth was supported mainly by the increase in the gross minimum salary from the beginning of the year, reflected in the positive evolution of wages. The growth distribution was unequal compared with the previous quarters, an average quarter on quarter growth by 12 percent, 2 percent in the second quarter and the average wages value’ maintenance in Q3. Although the salaries remained constant in the third quarter, the incentives increased year on year by 9 percent, meaning higher wages for Romanian employees.
„The Smartree Workforce Index data shows a positive trend at the market level during the nine months of the year. Of course, we identified different evolutions of the analyzed indicators during this period. This is due to several factors, from the applicability of some changes in law, to the implementation of specific organizational programs. An example is the incentive programs. More and more companies offer bonuses to their employees for retention and motivation,” said Adrian Stanciu, CEO Smartree.
Also the number of hirings increased in average by 13 percent in this period due to the favorable macroeconomic environment and the economic growth registered in the first part of the year. According to the Smartree data, the industries that registered the biggest number of hirings are in: pharma, medical equipment, telecommunications, software applications development and auto parts production.
“The labor market dynamism was seen also in the third quarter of the year, even if this interval overlapped the vacations period. The employers continued to recruit massively and the hirings increase in this interval is in a positive hirings forecast for the next period,” added Stanciu.